Cashback or Reward Points
Alliance Bank Visa Infinite Business Credit Card allows you to make choices on whether to earn cashback or reward points.
Every Ringgit you spend on retail purchases is worthy of both options.
If you are in favour of cashback benefit, you can earn 0.2% cashback for purchases of up to RM10000.
Yes, there's no minimum purchase required!
If you spend between RM10001 and RM200000, you can enjoy 0.5% cashback, meanwhile, the cashback is 0.8% for the spending between RM200001 to RM300000.
If you spend more than that, you can earn the highest cashback rate of 1.5%.
However, the maximum cashback is capped at retail purchases of RM650000 per month. That simply means the maximum monthly cap is RM9750.
On the other hand, you can opt for Timeless Bonus Points (TBP) with no expiry date.
For every Ringgit you spend on retail purchases locally, you can earn 1x Timeless Bonus Point. Besides that, you can earn double TBP for your retail purchases at overseas.
Bear in mind that petrol and government-related expenses will not be rewarded with Timeless Bonus Points.
0% Interest Instalment
For your overseas business spending, you can opt to repay with zero interest with 0% Alliance Bank Business Credit Card FlexiPay Plan, provided that you are able to settle the outstanding dues in 3 months.
The minimum spending required is RM500.
If you would like to pick longer repayment periods, you can opt for a 6-month repayment plan with the one-time upfront handling fee of 2.5%.
Besides that, you can stretch your business spending repayment to 12 months with the one-time interest rate of 5.5% on the FlexiPay amount.
The minimum purchase amount is RM500.
The one-time upfront interest rate will be charged on the first instalment month.
Despite the FlexiPay Plan's low interest rate, it's better to make the repayment on time.
Otherwise, Alliance Bank will charge you 18%p.a. on the outstanding monthly instalment or the entire amount, depending on the decision from Alliance Bank.
You can apply for the Alliance Bank Visa Infinite Business Credit Card with 2 options - personal or business liability.
If you choose to bundle the credit card with personal liability, the minimum annual income is RM150000 and you're required to operate your business for at least 2 years.
For business liability, on the other hand, the minimum annual turnover is higher at RM500000 with a minimum 3 years' business operation.
The Personal Liability Visa Infinite Business Credit Card gives you the minimum credit limit of RM30000 for up to RM300000.
Meanwhile, the credit limit falls between RM25000 and RM500000 for the credit card with company liability.
Last but not least, the credit limit is subjected to credit evaluation and your repayment capacity.
What are the interest rate imposed on repayments?
|Conditions of Repayments||Tiered Interest Rate (Per Annum)|
|Prompt Repayment every month||15%|
|Prompt Repayment 10 out of 12 months||17%|
|Prompt Repayment less than 10 out of 12 months AND New Cardmembers||18%|
Previously, finance charge is only imposed on the below that are not paid after the payment due date:
- Retail transaction - finance charge is calculated from the posting date till full payment is made
- cash advances/withdrawal transaction - finance charge is calculated from the transaction date
Finance charge is now based on the prevailing tiered interest rate (above) will be imposed on any of your outstanding balance including All Fees and Charges (except late payment charges).
These are carried forward from the previous statement until the outstanding balances are settled in full.
All Fess and Charges includes:
- Retail Transactions
- Annual Fee
- Cash Advance Fee
- Card Replacement Fee
- Statement Copy Fee
- Sales Draft Retrieval Copy Fee
- Any other form of service of miscellaneous fee (if any) EXCEPT Late Payment Charges
Late Payment Charge of 1% will be imposed if the minimum payment is not made by the payment due date. This is subject to a minimum of RM10, whichever is higher up to a maximum of RM100.
This change on Finance Charge will not have any impact if you do not have any unpaid outstanding balance.
In fact you will continue to enjoy a 20 days interest-free period, provided that the outstanding balances carried forward from the previous month's statement cycle are paid in full.